New Delhi: No real estate project can fail if promoters maintain financial discipline from the beginning, said Sanjeev Kumar Arora, member, Haryana regulatory authority, Gurugram bench.
Addressing the Assocham National Conference on the changing dynamics of real estate for Viksit Bharat, he also advocated reducing interest rates on home loans to boost demand.
"I believe that no project can fail, as long as the promoter tries to maintain financial discipline from the beginning of the project and tries to maintain a debt to equity ratio... if the promoters maintain financial discipline from the beginning of the project. "None project may fail," Arora said.
He spoke about the role of real estate sector in the Indian economy, especially in creating employment opportunities.
"There is a need to rationalize interest rates and interest rates, because once interest rates are reduced, investors or home buyers will surely come forward. And builders are also happy to offer the lowest possible costs," Arora stated.
Talking about the RERA real estate law, Arora, member of Haryana Real Estate Regulatory Authority (HRERA) Gurugram bench, said around 125,000 projects have been registered under RERA since its enactment across India, while also 75,000 runners have registered.
Pradeep Aggarwal, chairman of Assocham National Council for Real Estate, Housing and Urban Development, said the sector is crucial to making India a leading economy.
The real estate sector is a Rs 24 lakh crore market and its contribution to the GDP is around 13.8 per cent, he added.
Urbanbriq Development Management Pvt Ltd director Vineet Relia said there could be a downward cycle if the government does not support this sector in the coming years in terms of affordability.
Addressing the Assocham National Conference on the changing dynamics of real estate for Viksit Bharat, he also advocated reducing interest rates on home loans to boost demand.
"I believe that no project can fail, as long as the promoter tries to maintain financial discipline from the beginning of the project and tries to maintain a debt to equity ratio... if the promoters maintain financial discipline from the beginning of the project. "None project may fail," Arora said.
He spoke about the role of real estate sector in the Indian economy, especially in creating employment opportunities.
"There is a need to rationalize interest rates and interest rates, because once interest rates are reduced, investors or home buyers will surely come forward. And builders are also happy to offer the lowest possible costs," Arora stated.
Talking about the RERA real estate law, Arora, member of Haryana Real Estate Regulatory Authority (HRERA) Gurugram bench, said around 125,000 projects have been registered under RERA since its enactment across India, while also 75,000 runners have registered.
Pradeep Aggarwal, chairman of Assocham National Council for Real Estate, Housing and Urban Development, said the sector is crucial to making India a leading economy.
The real estate sector is a Rs 24 lakh crore market and its contribution to the GDP is around 13.8 per cent, he added.
Urbanbriq Development Management Pvt Ltd director Vineet Relia said there could be a downward cycle if the government does not support this sector in the coming years in terms of affordability.
